Sunoco Debuts "Essence Of Racing" Campaign Executive Transactions Isiah Thomas Expected Backlash Over Hiring FanDuel Brings On Most Of Zynga Sports Team Georgia Approves Increased Athletic Budget Kentucky Adding Ribbon Boards At Rupp IndyCar Ponders How To Attract Fans Long Term Jeff Gordon Hired As Full-Time Analyst For Fox Danica's Sponsorship Status To Be Telling For NASCAR Classified Advertisements
SBD/15/Events AttractionsPrint All
American teams preparing for the 2000 America's Cup are in need of funding, according to CNBC's Susan Lisovicz. Experts predict that should all six U.S. teams competing for the Cup make it to the qualifying round, it will cost "at least" $100M. However, "not one U.S. corporation has yet to come aboard with a major sponsorship," with one reason for sponsor reluctance being that TV rights "have yet to be awarded." One of the U.S. teams, Young America, estimates that it needs to raise $40M to reclaim the Cup from New Zealand. While some companies previously associated with the event say they are "currently in talks," only Norwegian outdoor apparel maker Helly Hansen has committed to a sponsorship deal. Jim Reilly, Marketing Director for Young America, says he is talking to a "who's who" of the Fortune 500. Reilly: "The theme of our marketing program is forget all of your romantic notions about sailing. This is about business; it's about branding" ("Business Insiders," 9/12).